P3 Health Partners Inc (PIII) Q2 2024 Earnings Call Highlights: Strong Revenue Growth and ...

GuruFocus.com10-10

Revenue: $379 million, reflecting a 15% year-over-year growth. Capitated Revenue: $374 million. Member Growth: Increased approximately 23% year-over-year to over 128,000 members. Medical Cost Per ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nP3 Health Partners Inc (PIII) Q2 2024 Earnings Call Highlights: Strong Revenue Growth and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 05:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/p3-health-partners-inc-piii-211952437.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $379 million, reflecting a 15% year-over-year growth.\nCapitated Revenue: $374 million.\nMember Growth: Increased approximately 23% year-over-year to over 128,000 members.\nMedical Cost Per ...</p>\n\n<a href=\"https://finance.yahoo.com/news/p3-health-partners-inc-piii-211952437.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PIIIW","symbol_name":"3 Health Partners Warrant","start_time":0,"source_url":"https://finance.yahoo.com/news/p3-health-partners-inc-piii-211952437.html","article_id":"2474005582","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474005582","pubTimestamp":1728508792,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: $379 million, reflecting a 15% year-over-year growth.Member Growth: Increased approximately 23% year-over-year to over 128,000 members.Medical Cost Per Member Per Month: $869, a decrease of 6% sequentially.Medical Margin: $41 million or $107 on a PMPM basis.Adjusted EBITDA Loss: $9 million, a 50% improvement quarter-over-quarter.Operating Expenses: Decreased 14% year-over-year to 6% of revenue.Cash Position: Ended the quarter with $78 million in cash.Net Cash Used in Operating Activities: Approximately $10 million, a 50% reduction from Q1.Capital Raise: Approximately $42 million in gross proceeds.Full-Year Revenue Guidance: Projected between $1.45 billion and $1.55 billion.Full-Year Adjusted EBITDA Guidance: $20 million to $40 million.GuruFocus has detected 3 Warning Signs with PIII.P3 Health Partners Inc  reported a 15% year-over-year revenue growth for the second quarter of 2024, driven by a strong pipeline and increased retention rate of primary care physicians.P3 Health Pa","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PIIIW":"3 Health Partners Warrant","PIII":"3 Health Partners"},"translate_title":"P3 Health Partners Inc(PIII)2024年第二季度收益看涨期权亮点：强劲的收入增长和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PIII":1,"PIIIW":0.9},"content_text":"Revenue: $379 million, reflecting a 15% year-over-year growth.\nCapitated Revenue: $374 million.\nMember Growth: Increased approximately 23% year-over-year to over 128,000 members.\nMedical Cost Per Member Per Month: $869, a decrease of 6% sequentially.\nMedical Margin: $41 million or $107 on a PMPM basis.\nAdjusted EBITDA Loss: $9 million, a 50% improvement quarter-over-quarter.\nOperating Expenses: Decreased 14% year-over-year to 6% of revenue.\nCash Position: Ended the quarter with $78 million in cash.\nNet Cash Used in Operating Activities: Approximately $10 million, a 50% reduction from Q1.\nCapital Raise: Approximately $42 million in gross proceeds.\nFull-Year Revenue Guidance: Projected between $1.45 billion and $1.55 billion.\nFull-Year Adjusted EBITDA Guidance: $20 million to $40 million.\n\n\nWarning! GuruFocus has detected 3 Warning Signs with PIII.\n\nRelease Date: August 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nP3 Health Partners Inc (NASDAQ:PIII) reported a 15% year-over-year revenue growth for the second quarter of 2024, driven by a strong pipeline and increased retention rate of primary care physicians.\nThe company achieved a 6% sequential decrease in medical cost per member per month, indicating strong execution and a normalizing utilization trend.\nP3 Health Partners Inc (NASDAQ:PIII) improved its adjusted EBITDA loss by approximately 50% quarter-over-quarter, showcasing strong momentum.\nThe company successfully completed a capital raise of approximately $42 million, significantly strengthening its balance sheet and providing additional financial flexibility.\nP3 Health Partners Inc (NASDAQ:PIII) is operating in a large and rapidly growing market, with a total addressable market approaching $1 trillion, offering significant expansion opportunities.\n\n Negative Points \n\nDespite improvements, P3 Health Partners Inc (NASDAQ:PIII) still reported an adjusted EBITDA loss of $9 million for the second quarter.\nThe company faces challenges in aligning its risk contract portfolio with payers to better reflect its enhanced value proposition.\nP3 Health Partners Inc (NASDAQ:PIII) needs to address underperforming provider groups, which may require adjusting network relationships.\nThe timing of revenue recognition related to final sweeps can be unpredictable, impacting year-over-year comparisons.\nThe company is still working on capturing additional cost efficiencies, indicating ongoing challenges in expense management.\n\n Q & A Highlights \nQ: How have affiliated providers responded to the change at the CEO level? A: Aric Coffman, CEO, stated that the response has been generally very positive, with no significant disruptions. The transition was smooth, aided by the cooperation of his predecessor, Sherif.\nQ: Can you elaborate on the opportunity to increase Medicare Advantage member density per doctor? A: Aric Coffman, CEO, explained that increasing member density within existing providers is crucial for value-based care transformation. This involves smart growth strategies to deepen relationships with current providers, enhancing their ability to manage more patients effectively.\nQ: Could you clarify the impact of sweep timing on year-over-year comparisons in Q2? A: Atul Kavthekar, CFO, noted that the timing of sweeps can be unpredictable, affecting quarterly comparisons. Last year, sweeps were accrued in Q2, which impacted year-over-year comparisons.\nQ: How are you managing observation stays and the two-midnight rule? A: Amir Bacchus, Chief Medical Officer, highlighted that observation stays decreased by 22% sequentially. This was achieved by actively working with hospitals to ensure compliance with the two-midnight rule, reducing unnecessary admissions.\nQ: What is your strategy for increasing physician density versus expanding into new markets? A: Aric Coffman, CEO, emphasized a focus on smart growth by deepening existing market presence rather than expanding geographically. This approach aims to be both profitable and cash flow accretive.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474005582"}